Tag: NASDAQ

The tech-heavy Nasdaq hit another record high Monday, while the Dow slipped amid weakness in financial and industrial stocks.
The Dow Jones Industrial Average fell 157.13 points, or 0.62%, to 25,178.61.
The S&P 500 edged 3.55 points lower, or 0.13%, to 2,783.02.
On Friday, the nine-year anniversary of the bull market was boosted by an employment report showing a much larger than expected 313,000 jobs were added to payrolls in February, with economists expecting 200,000 jobs.
The unemployment rate stayed at 4.1%, a 17-year low.
The U.S. economic calendar this week will include inflation reports, with the consumer price index on Tuesday and the producer price index and a reading on retailing sales on Wednesday.
European finance ministers are expected to discuss President Donald Trump’s plan to impose steel and aluminum tariffs.
On tap next week is the Federal Reserve’s decision on interest rates.
“As the week rolls on, apart from finding out just how deep the fear runs over Trump’s tariff plans at the EU finance ministers meeting on Tuesday, there is likely to be a focus later in the week on U.S. macro data as Tuesday has the CPI readings released,” said James Hughes, chief market analyst at AxiTrader.
“Ahead of next week Fed rate decision, inflation will, of course, be closely watched, and remains a key battleground and sticking point on a decision to hike rates either three or four times in 2018.”

U.S. stocks opened higher on Monday, extending Friday’s rally on job gains reported by the Labor Department.
The Nasdaq hit an all-time high in early trading Monday, setting a record for a second straight session.
The Nasdaq is outperforming the other major averages by a wide margin this year, driven higher by big advances in the major tech titans including Amazon (NASDAQ:AMZN), Apple (NASDAQ:AAPL) and Microsoft (NASDAQ: MSFT).
On Friday, the nine-year anniversary of the bull market was boosted by a employment report showing a much larger than expected 313,000 jobs were added to payrolls in February.
The unemployment rate stayed at 4.1%, a 17-year low.
“Buoyed by Friday’s jobs report and a general easing of political tensions, markets are on the up again this morning,” said Chris Beauchamp, chief market analyst at IG.
“Sentiment, which has been bearish for weeks now, has provided another tailwind for equities, as investors returned to equities, with more than a few likely emboldened by the fresh record for the Nasdaq on Friday.” The U.S. economic calendar will include inflations reports, with the consumer price index on Tuesday and the producer price index on Wednesday.
Housing starts will be reported on Friday.European finance ministers are expected to discuss President Donald Trump’s plan to impose steel and aluminum tariffs.
“As the week rolls on, apart from finding out just how deep the fear runs over Trump’s tariff plans at the EU finance ministers meeting on Tuesday, there is likely to be a focus later in the week on U.S. macro data as Tuesday has the CPI readings released,” said James Hughes, chief market analyst at AxiTrader.
“Ahead of next week Fed rate decision, inflation will of course be closely watched, and remains a key battleground and sticking point on a decision to hike rates either three or four times in 2018.”

The Dow Jones Industrial Average rallied 440.52 points, or 1.77%, to 25,335.74.
The Nasdaq Composite jumped 132.86 points, or 1.79%, to 7,560.81.
The unemployment rate held steady at 4.1% in the month, just above the 4% analysts anticipated and remaining at a 17-year low.
The modest inflation that emerged in the February jobs report eased those concerns.
“The jobs streak remains intact, and it’s punctuating what has been a tremendous start to the year,” said Mike Loewengart, vice president of investment strategy at E*TRADE.
“Economic growth, of course, is typically welcome by many.
But as wages climb, and the job market continues to tighten, so does the shadow of inflation.
The exclusion of two allies eased concerns on Wall Street of increased trade tensions.
“I’m surprised we haven’t seen more of a market reaction to the North Korean story, with stocks finishing higher but without any real clear direction,” said James Hughes, chief market analyst at AxiTrader.
“This could well have been offset by the tariff news as the announcement has bought widespread condemnation from all quarters.” Shares in Asia gained early after the news broke that North Korea extended an invitation to the U.S. for President Trump to meet North Korean leader Kim Jong Un and Trump accepted.

MARKET SNAPSHOT: Dow, S&P 500, Nasdaq Log Worst Session Since May, Close Lower For 3rd Straight Day.
North Korean tensions help to undercut investor optimism All three major equity benchmarks finished sharply lower on Thursday for their worst day since mid-May, with the trifecta of indexes all tumbling for a third straight session for the first time since mid-April, amid a persistent war of words between the U.S. and North Korea.
Dow Jones Industrial Average closed down 204.69 points, or 0.9%, at 21,844.01, finishing near the lows of the session, as Apple Inc.(AAPL) shares sank 3.2% and Goldman Sachs Group Inc.(GS) shares gave up 2.4%.
The S&P 500 index dropped 35.81 points, or 1.5%, to finish at 2,438.21, with 10 of the index’s 11 sectors closing in the red.
Stocks finished off their lows, but still held on to losses Wednesday (http://www.marketwatch.com/story/us-stock-futures-pull-back-as-north-korea-threatens-guam-2017-08-09), as investors remained anxious about the U.S.-North Korea war of words and a clutch of disappointing earnings reports.
And if that sort of downtrend continues, it would be the kind that many investors have been looking for after 283 trading days without a pullback of 5% or more.
Meanwhile, traders absorbed a report on jobless claims (http://www.marketwatch.com/story/us-jobless-claims-rise-by-3000-to-244000-2017-08-10) that showed that initial claims for U.S. unemployment-insurance benefits continue to reflect a strong labor market, even as they inched slightly higher.
The number of people who applied for U.S. unemployment-insurance benefits rose by 3,000 to 244,000 in the week that ended August 5, the Labor Department reported.
And U.S. wholesale prices (http://www.marketwatch.com/story/us-wholesale-inflation-fall-01-in-july-first-decline-in-almost-a-year-2017-08-10) declined in July for the first time in almost a year, providing additional evidence of tepid inflation that is bedeviling the Federal Reserve.
Amazon shares finished down 2.6%.

Will the US economy perk up under President Trump?
That is clearly good news for Trump.
Even the so-called underemployment rate, a number some consider the “real” unemployment rate since it includes people working part-time that want a full-time job, fell to 8.9% in March.
The Fed said that consumer credit rose 4.8% annually in February (the most recent figures available) to $3.79 trillion.
Demand for these loans have fallen for two straight months and are down from a recent peak of $2.1 trillion in November.
It’s not a cause for alarm just yet, but if businesses stop borrowing to finance growth and subsequently hire less as a result, that could be a problem for Trump.
Consumer spending makes up a majority of the nation’s overall economic activity.
The government said in April that retail sales fell 0.2% in March, following a 0.3% decline in February.
The US trade deficit has narrowed only slightly in the past few months — and the gap has widened with China and Mexico.
And the overall trade deficit is still significant — $43.7 trillion.

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